Fannie Mae-No Politics (FNMA)

[DCBill]

But they are not "large banks," they are mono-line security guarantors and don't hold any loans in the portfolios.
Size and well managed guarantee businesses are NOT authority to lend money all across the world for what their regulators say is doable as SIFI banks have done and can do.
By statute, F&f can't do that. So Parrot and Zandi then make up bizarre situation suggesting the rating agencies will react to the duo in post-Conservatorship and lower their AA ratings--when the GSEs now have a legitimate smallish Treasury credit line (federal indicia??)--for which they pay DOT--and didn't have in 2008.
Read Tim Howard's latest blog, where he discusses, specifically, this matter in detail, and then blows Parrot and Zandi's report out of the water--for cause!